KGI told FT that the iWatch could be delayed until next year essentially because it’s difficult to make because it needs a lot of special components and a new manufacturing method.

Analysts make predictions about Apple all the time, but KGI has a pretty good track record that makes its opinion worth listening to. Most of KGI’s reports are based on its analysts’ talks with Asian suppliers that make components for Apple’s gadgets.

Ming-Chi Kuo, KGI’s chief analyst, has been right about numerous Apple scoops in the past including the gold iPhone and Apple using sapphire glass on the iPhone’s home button.

“While we are positive on iWatch and believe that the advantages of the design and business model behind it are difficult to copy, we think, given the aforementioned challenges, that the launch could be postponed to 2015,” KGI told FT.

The most recent rumours have Apple releasing the iWatch in September or October. If KGI is right, we could be in for a much longer wait for the iWatch.